Question: Define $\#N$ by the formula $\#N = .5(N) + 1$. Calculate $\#(\#(\#50))$.
Explanation: We have  \begin{align*}
\#(\#(\#50))&=\#(\#(.5(50)+1))=\#(\#(26))\\
&=\#(.5(26)+1)=\#(14)=(.5(14)+1)=\boxed{8}.
\end{align*}